Foundry Financial Group Inc. Takes $301,000 Position in Broadcom Inc. $AVGO

Key Points

• Foundry Financial Group Inc. acquired a new stake in Broadcom Inc., purchasing 1,091 shares valued at approximately $301,000 during the 2nd quarter.
• Insider transactions included Mark David Brazeal selling over 16,000 shares, valued at over $5.7 million, representing a 4.79% decrease in his position.
• Broadcom reported a 22% increase in revenue year-over-year, with earnings per share of $1.69 exceeding analysts' expectations.

Foundry Financial Group Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,091 shares of the semiconductor manufacturer's stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC bought a new stake in Broadcom in the first quarter worth $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter valued at about $26,000. Sawyer & Company Inc boosted its stake in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new stake in Broadcom during the 2nd quarter valued at $28,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $338.37 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The firm has a 50 day moving average of $318.43 and a 200 day moving average of $258.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Analyst Ratings Changes

A number of brokerages have issued reports on AVGO. UBS Group boosted their price objective on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Evercore ISI reaffirmed an "outperform" rating and issued a $342.00 price target (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Citigroup raised their price objective on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Wells Fargo & Company increased their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Finally, Oppenheimer reissued an "outperform" rating and set a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $357.22.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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